Cross-sectional variation in the economic consequences of international accounting harmonization: The case of mandatory IFRS adoption in the UK

被引：97

作者：

Christensen, Hans B. ^{[1
]}

Lee, Edward ^{[1
]}

Walker, Martin ^{[1
]}

机构：

[1] Manchester Business Sch, Manchester Accounting & Finance Grp, Crawford House,Oxford Rd, Manchester M13 9PL, Lancs, England

来源：

INTERNATIONAL JOURNAL OF ACCOUNTING | 2007年 / 42卷 / 04期

关键词：

International Financial Reporting Standards; Mandatory adoption; Economic consequences;

D O I：

10.1016/j.intacc.2007.09.007

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study examines the economic consequences for UK firms of the European Union's decision to impose mandatory IFRS. We hypothesize that the impact varies across firms and is conditional on the perceived benefit. We estimate a counter-factual proxy for a UK firm's willingness to adopt IFRS from the prior GAAP choices of German firms. We show that this proxy predicts cross-sectional variations in both the short-run market reactions and the long-run changes in cost of equity that are associated with the decision. This implies that mandatory IFRS adoption does not benefit all firms in a uniform way but results in relative winners and losers. (C) 2007 University of Illinois. All rights reserved.

引用

页码：341 / 379

页数：39

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